Tim Cook sells $3.6 million worth of Apple stock

Tim Cook sells $3.6 million worth of Apple stock
As part of a pre-arranged financial planning maneuver, Apple CEO Tim Cook sold 30,000 shares of Apple this week netting the executive more than $3.6 million. SEC filings show that Cook made the sales on January 17th through the 19 with 10,000 shares sold each day. The average price of the transactions came to $120 a share. Last year, Cook received 1.26 million Restrictive Stock Units (RSU) consisting of 980,000 shares based on his longevity at Apple and 280,000 shares based on the company's performance.

After the recent transactions, Cook still owns 1,009,809 shares of Apple, valued at more than $121 million. But this is a well that will replenish as far as Cook is concerned. 700,000 RSUs will vest on August 24th, 2021. Five annual installments of performance based RSUs run through 2021.

While the stock sales this month were pre-arranged, they took place following the announcement that Cook received a pay cut of $1.5 million after Apple failed to meet certain goals for revenue during 2016. Last year, Apple reported consecutive quarters with a drop in iPhone sales on a year-over-year basis. Previously, Apple had never reported such a drop in revenue related to iPhone sales.

Check out the SEC form reporting the sales by clicking on the sourcelink below.

source: SEC via AppleInsider

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36 Comments

1. Plasticsh1t

Posts: 3108; Member since: Sep 01, 2014

That's a lotta cash.

2. NarutoKage14

Posts: 1324; Member since: Aug 31, 2016

He knows he won't be able to keep milking Apple forever. He's going to end up selling most of his shares while he knows he can still get a higher price for them. To think that any single individual or family from 95% of the countries population would be set for life with $3.6 million.

3. EC112987

Posts: 1215; Member since: Nov 10, 2014

That's alot of shares!! Give me 10k lol

4. killer7D

Posts: 551; Member since: Sep 18, 2014

He will sell more stocks with the change in politics in the U.S. He knows very well how those stock prices are going to dramatically drop very very soon !

5. 14545

Posts: 1835; Member since: Nov 22, 2011

Actually, you couldn't be more wrong. It is very unlikely the markets drop anytime in the next 12-24 months. Sectors will, but the market as a whole will very likely not. So stop with the dramatics. I don't even like the guy, or vote for him, but these statements just show how clueless most of my peers really are. Just on corporate tax cuts alone, we should see a bump. Likely not huge, but something nonetheless. Assuming they get through Congress.

6. nedimko_wot

Posts: 115; Member since: Oct 01, 2016

where do you live in la la land sorry but trump is elected so apple and all other smartphone companies must produce products in usa to avoid tariffs and that dosent sit well with stock holders and investors

7. kiko007

Posts: 7493; Member since: Feb 17, 2016

You Trump fans get more delusional every day.

9. 14545

Posts: 1835; Member since: Nov 22, 2011

I know you don't possess reading comprehension, but I didn't vote for him. I'm just not an idiot that finds reality difficult to understand. I'm an anarchist, you twit.

10. kiko007

Posts: 7493; Member since: Feb 17, 2016

Ironic, considering that reply wasn't to you in the slightest. Thanks for the uncalled for insults champ....really mature.

18. NoToFanboys

Posts: 3231; Member since: Oct 03, 2015

LOL owned him good.

14. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

What you expect. Most of them live on farms and never went to school!

16. marorun

Posts: 5029; Member since: Mar 30, 2015

Techie go read real statistic ;)

23. sissy246

Posts: 7120; Member since: Mar 04, 2015

Sorry techie, that is just bulls**t. I agree with you on some of your post, not this one. I didn't vote for him either, I am sick of people saying that s**t though.

8. 14545

Posts: 1835; Member since: Nov 22, 2011

Please take your partisan hackery elsewhere. Any tariffs, assuming they are even passed will be offset by tax reductions. If investors were so worried then why have we and Apple had massive gains since November?

11. willard12 unregistered

I'm not sure the stock market has made "massive" gains since November. It was already pretty high and climbing before the election. Otherwise, we'd have to create a new word other than "massive" to describe the gains made in the stock market from 2009 to November. The 2% tax rate Apple gets in Ireland is not an "off-set" from the 15% being proposed by the President. Investors have been eased by his cabinet picks disagreeing with him on issues and saying there will not be a trade war. However, Tim Cook has actually met with the President and knows his plans. And now, he's cashing out. So, that speaks for itself.

13. dmitrilp_

Posts: 330; Member since: Sep 12, 2016

He's cashing out b/c Apple sales have drop year over year

19. Subie

Posts: 2370; Member since: Aug 01, 2015

Tim cook selling some shares was pre-arranged and he did something similar last year. This article alludes to it by mentioning the 1.26 million stock units he received. He cashed out a bunch of those in August for about $36 million (long before the election). None of this has to do with his meeting with Trump. http://fortune.com/2016/08/26/apple-ceo-tim-cook-sells-shares/

20. 14545

Posts: 1835; Member since: Nov 22, 2011

Actually, it you had been paying attention at all, you would know that the market had been on the skids since July. Easily verifiable with Google. Also, since then it basically gained about 15% pricing in the corporate tax cuts. Next, the market was basically gaining back what it lost during Obama, again didn't vote for him either. But easily verifiable. It didn't crest its 2007 high until 2015. Again, you know that if you bother to look at all. Next, he/she indicated the market would flop, which has largely been debunked and the lower corporate taxes priced in since November. Clearly another partisan shill we have here, though. Lastly, since reading comprehension isn't your strong suit, he still has a ton of stock left in the company and he could have needed the very small 30000 shares for a house or some other project. You have zero proof, especially based on this small transaction, that Cook no longer has faith the company or market will continue to increase. Please though, cash out. Assuming you have any money in the market to begin with. There will likely be a small correction, less than 10%, late in 2017, other than that, we seem pretty firmly in a bull market. But you clearly know more than the rest of the investors, so put your money where your mouth is.

15. marorun

Posts: 5029; Member since: Mar 30, 2015

lowering corporate taxe wont affect it in positive way you say? you say 14545 live in lala land but you seem to live in denial. We are not 100% sure how this will affect share but one event will be negative and one positive so usually 1-1 = 0.

21. sissy246

Posts: 7120; Member since: Mar 04, 2015

Well I am not a fan, but it's funny how it already going up.

31. sgodsell

Posts: 7383; Member since: Mar 16, 2013

Forget about Trump, this has nothing to do with Trump. It has everything to do with Apple themselves, and their actions alone. Apple hasn't shown any real innovations for years. They continue to follow the competition in a number of areas. Here is a fun fact for you the latest iPhone 7 is the only flagship device on the market with the lowest resolution display. I can pay $200 for a smartphone and get a higher resolution display. Not to mention this is the first year that I have seen Apple's latest iPhones go for zero dollars on contract, especially when it was released so soon. Also there is sales right now, where they are giving users a free iPhone SE, if you purchase an iPhone. These things have never occurred before. This is still January and the iPhone 7 was only released 3 months ago.

32. sissy246

Posts: 7120; Member since: Mar 04, 2015

Very well said.

35. cheetah2k

Posts: 2256; Member since: Jan 16, 2011

With Trump in and the "One America" policy, China going to fark him hard and just wait for the prices of iphones to skyrocket, or even worse for share holders, the iphone will be forced to be made in America which will drive the fab prices high, reducing share holders return, and stock won't be favoured anymore. Nothing but down coming. If you cant see that 14545 then you blind dude

36. 14545

Posts: 1835; Member since: Nov 22, 2011

Keep telling yourself that. If you think China can afford to do anything harmful to us given they are directly dependent on the US to buy their goods, you are delusional. Again, I have no love for the man, and I think in the long run some of his policies will be detrimental. But over the short-term, nothing major should happen. Anyone that makes bold statements of absolutes are the ones that have the smallest clue.

12. dmitrilp_

Posts: 330; Member since: Sep 12, 2016

I guess Timmy wants a new mansion, or is ready for the downgrade of Apple.

17. ctdog4748

Posts: 797; Member since: Mar 05, 2016

Tim Cook actually lives fairly modestly. If you can prove he owns another home, or any other grandiose purchases attributable to him, please post the link. https://www.google.com/amp/www.cultofmac.com/140167/tim-cooks-2400-square-foot-home-in-palo-alto-keeps-him-rooted/amp/?client=safari

24. sissy246

Posts: 7120; Member since: Mar 04, 2015

It my only be a 2400 square foot home, but it's not your average home.

25. NoToFanboys

Posts: 3231; Member since: Oct 03, 2015

You do realize you just replied to Tim Cook's dog right?

27. ctdog4748

Posts: 797; Member since: Mar 05, 2016

Sissy obviously you are not very familiar with real estate in the part of California that Tim Cook lives in. His home is within the average for that area, actually it's probably below average, as far as size, cost, or whatever other metric you choose to apply.

28. sissy246

Posts: 7120; Member since: Mar 04, 2015

I was born and raised in California , I am well aware of prices there. Lived there 43 years.

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